Welcome to Radical Personal Finance a show dedicated to providing you with the knowledge, skills, insight and encouragement you need, to live a rich and meaningful life now while building a plan for financial freedom in 10 years or less.

Today on the show we go back to basics Basics a series on the nuts and bolts of personal finance

some of those basic topics that beginners need to start with and or most of us need a good

refresher we need a reminder on the blocking and tackling the basic movements of our craft and so today we're going to talk about the problem with debt.

Now many people say Joshua I don't need to know what the problem is with debt because I'm in it and I don't like it and I want out

Or I've been in it and I didn't like it and I got out

But I'd like to articulate the problem in a succinct way that I hope will help

you to have a bit more thoughtfulness when next you consider going into debt. Here is the fundamental problem with debt. If you go into

debt you will find that your past is dragged into your future, thus limiting the choices and options that are available to you.

Your past is dragged into the future

and it limits the choices and options that are available to you.

Since the central theme of this show has to do with freedom in all of its various expressions.

We want to talk about how debt limits your freedom and how

if you care about freedom, be it personal freedom,

financial freedom, freedom of choice, freedom of lifestyle, freedom of

options.

One of your best first steps will be to get rid of debt and or avoid going into debt.

I'd like to give you a scenario here to show how debt can be so destructive to your freedom.

Let's assume for whatever reason you wind up losing your job. This was

unanticipated. You find yourself in a difficult financial situation,

assume for the sake of easy math that you have some sources of income,

but not quite enough to meet your normal living expenses.

...